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by jedberg
2176 days ago
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The land is still a scarce resource. What do you propose, that the government own all land? Let the property owners just own the buildings? We tried that before, it was called feudalism. It's where the King owned all the land and the peasants were allowed a small piece of land to work and enjoy the fruits of their labor. That system didn't work very well. |
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https://en.wikipedia.org/wiki/Land_value_tax
https://en.wikipedia.org/wiki/Georgism
People own the land, they just pay a "user fee" of sorts to the commons.
Actually, the current situation is already like feudalism. Under feudalism, people other than the king also held land (the nobility). These landed gentry also drew the benefits of free rent, from the poor labourers.
Those with land currently can hold it indefinitely, extract a profit from it, and then pass it onto their children. That sounds a lot like the landed gentry under feudalism to me. The property tax tempers it slightly (which is why prop 13 is so bad), but it's easy to eliminate it all, while still keeping private landownership and market mechanisms for allocation (I definitely don't trust the government to own and allocate all land efficiently).